Summary
- It was reported that "Bitcoin may have formed a bottom around $76,000."
- The analyst evaluated that "the selling pressure on Bitcoin is disappearing, and the possibility of a rebound is high."
- However, it was added that macroeconomic factors could act as risk factors for Bitcoin.
An analysis has emerged suggesting that Bitcoin (BTC) has formed a bottom. Accordingly, there are opinions that a rebound is expected.
On the 2nd (local time), CoinDesk reported, "Bitcoin may have formed a bottom around $76,000," suggesting that Bitcoin has the potential to rebound.
The media pointed out that recently Bitcoin formed a triangular pattern exceeding $78,000 on February 28 and $81,000 on March 31, based on the Coinbase daily chart. This triangular pattern also appeared during the launch of the Bitcoin spot ETF and during the unwinding of the yen carry trade last August, and over time, Bitcoin has formed higher lows.
Omkar Godbole, an analyst at CoinDesk, evaluated, "The recent pattern suggests a rebound for Bitcoin," adding, "The selling pressure on Bitcoin is disappearing, and considering past cases, the possibility of reaching a bottom is high." However, he added that macroeconomic factors such as tariff policies could act as risks.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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